news-banner-new

News

MI Adjusting acquire Mediation firm

MI Adjusting have acquired Dispute Mediation Services (DMS) a national mediation company. Head of Business Services, Mrs Tina Whelan commented: MI are an established liability adjusting specialist, that despite the economic climate have benefited from steady organic growth. Whilst the adjusting market remains our core business, the Board of Directors identified a market need for a high quality cost effective mediation service to assist Insurers in the prompt, conclusive and cost effective resolution of disputes concerning all types of civil and commercial claims connected with the insurance industry. Mediation is now widely recognised in the UK and Europe as the most economical and conclusive form of alternative dispute resolution and DMS has been at the forefront of this process. Our experience with them and the mediation industry generally is that about 8 out of 10 mediations resolve either on the day or shortly thereafter.

With an existing National presence, MI Adjusting say that they hope to integrate DMS within the next two - three months, however, it is MIs intention that the mediation services will be run as a fully independent company.

DMS was established in 2005 and via a network of Mediators provides mediation services throughout the UK in all disciplines of dispute resolution, albeit with a bias towards commercial and civil claims, including liability, personal injury and policy coverage disputes.

Mrs Whelan further stated; The market continues to change and in these challenging times more than ever, there exists a need to address the issue of costs and timescales associated with the handling of claims. Both claimants and defendants, need to embrace mediation as a means for effectively and promptly resolving disputes. Every case that settles in mediation as opposed to litigation involves a reduced cycle time, cost savings and benefits all interested parties.

Mediation involves a trained neutral mediator using his/her skills to bring parties to an amicable and workable resolution of their disputes. Although achieving results in this way may seem to be unlikely, the process is highly effective with a very high success rate. Mediation is fundamentally different to litigation or arbitration where a third party, the judge or arbitrator, makes a binding decision upon the parties. In mediation the mediator is a facilitator rather than a decision maker and is responsible for developing effective communication and building consensus between parties.

Mrs Whelan stated that DMS seem to be a good fit for MI, with the respective companies embracing similar philosophies and a genuine desire to provide truly value added and cost benefit services to the Insurance Industry.

February 2009

End